Since November 2009, it has published four important reports
AIRMIC has stepped up significantly its technical content for members in response to members’ wishes. Since November 2009, it has published four important reports covering ISO 31000, property and business interruption insurance, reputation risk and procurement of corporate insurance. All the documents are available free from the AIRMIC website.
In 2009, AIRMIC also launched AIRMIC Academy, a programme of half day courses on a wide range of topics. It has been highly successful and about 30 more events are scheduled for 2010. This year there will be a focus on mergers and acquisitions and on directors’ and officers’ risks, including presentation and communication skills so risk managers can gain from this opening to senior management.
AIRMIC’s CEO John Hurrell comments, "We have been overwhelmed by the level of interest from our members in the academy. Over 200 members attended 17 events in 2009 and we plan to ramp this up significantly in 2010. Most courses are sold out within an hour of going online to members! We really appreciate the support we have had from partners and preferred service providers in putting these sessions together."
• ERM and ISO 31000
A not uncritical guide to enterprise risk management (ERM) and ISO 31000 is due for publication in mid-February. A structured approach to ERM and the requirements of ISO 31000 is the work of AIRMIC, the public sector risk management association Alarm and the Institute of Risk Management (IRM).
• Benchmarking property damage and BI
Members want more and better benchmarking data, so AIRMIC commissioned consultants Advisen to undertake research into property damage and business interruption (BI) insurance. Willis sponsored the project.
The main findings were these: more than two-thirds those responding bought limits of at least £100m for property damage and BI cover and over half paid premiums of £1m a year. Companies paying higher premiums are more likely to use engineering consultants, and captive insurance companies remain an important risk financing tool for this class of insurance.
• Risks to reputation
Following publication of its report, Policy and Governance for Risks to Reputation, AIRMIC plans to host a roundtable on the subject to discuss how further members can develop strategies to reduce risks of reputation damage. The report based on a high level workshop initiated by CEO John Hurrell, and Anthony Fitzsimmons, chairman of Reputability, will form part of the technical content of AIRMIC’s annual conference.
• Purchasing corporate insurance
The guide to purchasing corporate insurance produced jointly by AIRMIC and the Chartered Institute of Purchasing and Supply (CIPS) in now available for members of both organisations.
